Hara Capital LLC Takes $1.85 Million Position in Weatherford International PLC (NASDAQ:WFRD)

Hara Capital LLC bought a new position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 34,461 shares of the company's stock, valued at approximately $1,845,000. Weatherford International accounts for about 1.2% of Hara Capital LLC's holdings, making the stock its 21st largest position.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after buying an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Weatherford International in the 4th quarter valued at $29,000. Fifth Third Bancorp boosted its holdings in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after buying an additional 503 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after buying an additional 231 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after buying an additional 214 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WFRD shares. Raymond James Financial cut shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $73.00 to $69.00 in a report on Thursday, April 24th. Barclays lowered their target price on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup decreased their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.63.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $0.90 during trading hours on Friday, reaching $58.15. 794,609 shares of the company's stock were exchanged, compared to its average volume of 1,189,365. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.65 and a beta of 0.76. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 1.16. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $135.00. The company has a 50-day moving average of $49.29 and a 200 day moving average of $55.31.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. Research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Weatherford International's payout ratio is currently 16.00%.

Insider Buying and Selling

In other news, Director Neal P. Goldman acquired 12,000 shares of the business's stock in a transaction on Thursday, April 24th. The stock was bought at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the transaction, the director owned 25,311 shares in the company, valued at $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

About Weatherford International

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.